Stag Industrial (NYSE:STAG) Stock Breaks Above 50-Day Moving Average - Here's What Happened

Key Points

• STAG Industrial shares rose 2.4% and moved above their 50-day moving average of $36.75, reaching as high as $37.69 before last trading at $37.47.
• Analysts have a consensus Hold rating and an average price target of $41.11; ratings include four Buys, four Holds, and one Sell.
• Quarterly EPS of $0.37 missed the $0.66 consensus, while revenue of $231.05 million exceeded expectations and grew 9.4% year over year. The company also announced a $0.3875 quarterly dividend, equivalent to a 4.1% yield.

Stag Industrial, Inc. (NYSE:STAG - Get Free Report)'s share price crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $36.75 and traded as high as $37.69. Stag Industrial shares last traded at $37.47, with a volume of 999,897 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Citigroup lowered their target price on Stag Industrial from $40.00 to $39.00 and set a "neutral" rating on the stock in a report on Thursday, October 29th. Barclays boosted their price target on Stag Industrial from $38.00 to $41.00 and gave the stock an "underweight" rating in a report on Thursday, July 16th. Wells Fargo & Company cut their price target on Stag Industrial from $40.00 to $38.00 and set an "equal weight" rating for the company in a report on Tuesday, September 1st. Robert W. Baird upgraded Stag Industrial from a "neutral" rating to an "outperform" rating and set a $42.00 price objective on the stock in a research report on Monday, August 31st. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $43.00 price objective on shares of Stag Industrial in a research note on Monday, November 2nd. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Stag Industrial currently has a consensus rating of "Hold" and an average target price of $41.11.

Stag Industrial Stock Up 2.4%

The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.91. The firm has a market cap of $7.22 billion, a PE ratio of 26.57 and a beta of 0.91. The firm's 50 day moving average is $36.75 and its 200-day moving average is $37.87.

Stag Industrial (NYSE:STAG - Get Free Report) last released its earnings results on Tuesday, October 27th. The real estate investment trust reported $0.37 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.29). The firm had revenue of $231.05 million during the quarter, compared to analysts' expectations of $227.16 million. Stag Industrial had a return on equity of 7.28% and a net margin of 29.88%. The firm's revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 earnings per share. As a group, equities research analysts expect that Stag Industrial, Inc. will post 2.64 earnings per share for the current fiscal year.

Stag Industrial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be issued a dividend of $0.3875 per share. The ex-dividend date is Thursday, December 31st. This represents a $1.55 annualized dividend and a dividend yield of 4.1%. Stag Industrial's dividend payout ratio (DPR) is 109.93%.

Institutional Investors Weigh In On Stag Industrial

A number of hedge funds and other institutional investors have recently made changes to their positions in STAG. BlackRock Inc. purchased a new position in Stag Industrial during the second quarter worth about $1,097,126,000. Dimensional Fund Advisors LP grew its holdings in Stag Industrial by 4.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,983,231 shares of the real estate investment trust's stock valued at $107,576,000 after buying an additional 113,678 shares during the period. Bank of New York Mellon Corp purchased a new stake in Stag Industrial in the 2nd quarter valued at about $58,805,000. Bank of America Corp DE purchased a new stake in Stag Industrial in the 2nd quarter valued at about $55,184,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Stag Industrial by 574.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,382,316 shares of the real estate investment trust's stock valued at $49,501,000 after acquiring an additional 1,177,250 shares during the last quarter. Hedge funds and other institutional investors own 88.67% of the company's stock.

About Stag Industrial

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